Penobscot Investment Management Company Inc. Sells 1,516 Shares of S&P Global Inc. (NYSE:SPGI)

Penobscot Investment Management Company Inc. lessened its holdings in S&P Global Inc. (NYSE:SPGI) by 8.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,369 shares of the business services provider’s stock after selling 1,516 shares during the period. Penobscot Investment Management Company Inc.’s holdings in S&P Global were worth $8,650,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Human Investing LLC bought a new position in shares of S&P Global during the 4th quarter worth approximately $30,000. Noble Wealth Management PBC acquired a new position in S&P Global during the fourth quarter worth $31,000. Dunhill Financial LLC raised its stake in S&P Global by 94.4% during the third quarter. Dunhill Financial LLC now owns 70 shares of the business services provider’s stock worth $36,000 after acquiring an additional 34 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of S&P Global by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 72 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 63 shares during the period. Finally, BankPlus Trust Department bought a new stake in shares of S&P Global in the 4th quarter worth about $40,000. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SPGI shares. Evercore ISI lifted their price target on shares of S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Citigroup started coverage on S&P Global in a report on Friday, December 20th. They issued a “buy” rating and a $600.00 target price on the stock. Morgan Stanley raised their price target on S&P Global from $595.00 to $600.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Oppenheimer reduced their price objective on S&P Global from $590.00 to $580.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Finally, Wells Fargo & Company raised their target price on S&P Global from $617.00 to $633.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $590.86.

S&P Global Trading Up 2.0 %

SPGI opened at $513.83 on Wednesday. The firm has a 50 day simple moving average of $514.89 and a 200 day simple moving average of $510.33. S&P Global Inc. has a fifty-two week low of $407.69 and a fifty-two week high of $545.39. The company has a market cap of $158.16 billion, a price-to-earnings ratio of 41.61, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, February 11th. The business services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.41 by $0.36. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. During the same quarter in the previous year, the business posted $3.13 earnings per share. On average, sell-side analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.96 per share. This is a positive change from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Wednesday, February 26th. S&P Global’s payout ratio is presently 31.09%.

S&P Global Profile

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.